About this report

The annual report provides comprehensive information on how UPM seeks profitable, sustainable growth through performance and capitalizing on the major investments. All material information has been integrated into this one entirety. As part of the Report of the Board of Directors, we publish our statutory Sustainability Statement, which is based on the CSRD. 

Corporate Sustainability Reporting Directive (CSRD) 

The EU Corporate Sustainability Reporting Directive (CSRD) introduces a standardised mandatory reporting framework that requires companies to disclose comprehensive information about their environmental, social and governance performance. This includes actions to mitigate climate change, address human rights and promote good governance.

Under the CSRD, the European Sustainability Reporting Standards (ESRS) outline the new EU requirements and indicators and provide detailed guidelines on the content and format of reporting on sustainability-related impacts, risks and opportunities. We have included the European Sustainability Reporting Standards (ESRS) relevant to our business and the material topics identified through the double materiality assessment in the Sustainability Statement.

UPM’s corporate responsibility reporting in accordance with GRI standards and AA 1000

UPM has reported in accordance with the standards of the Global Reporting Initiative (GRI) for the period 1 January 2024 to 31 December 2024.

Our GRI index document shows where the material topics and general disclosures can be found in the Annual Report, on UPM’s website or in the GRI index document itself. It also includes information about omissions, additional explanations and disclosures on the management approach.

We are also committed to the principles of inclusivity, materiality, responsiveness and impact as defined in the AA 1000 AccountAbility Principles Standard (2018).